Carta Healthcare, which uses artificial intelligence to help health systems reduce costs, announced that it has closed a $25 million funding round.
Carta had announced a $20 million Series B round last November, but it subsequently received $5 million in additional investments from Memorial Hermann Health System and UnityPoint Health.
Matt Hollingsworth, Carta’s founder and CEO, said he wanted to get health systems in on the round. Memorial Hermann is now one of Carta’s largest customers.
Want more Portland Business News? Sign up for our Morning Edition and Breaking News emails.
Hollingsworth founded Carta in 2017 to improve patient carte using AI-driven technology and clinical data. The company’s software is used by 18 leading U.S. health systems, including Stanford University Medical Center, Common Spirit and UCSF.
Hollingsworth is based in Portland, along with three of Carta’s 155 employees. San Francisco is the largest of its outposts.
The latest round brings the total to $46 million raised since Carta’s founding.
Among other things, the Carta platform can predict how many and what kinds of supplies will be needed for a particular surgery and analyze data to reduce readmissions, all from mining the hospital’s own records.
Carta’s Atlas platform uses AI to free hospital staff from manually extracting data from medical records. Carta’s Navigator platform uses data the company curates to help figure out staffing needs.
Hollingsworth said Carta will use the Series B round to fuel even more growth, both through sales and improvements to the AI.
“At this point, it’s all about expansion,” he said. “The technology works really well, and we’ll keep developing it. There is a lot of excitement about what AI is going to do to the economy, and we’re one of the earlier examples of this — applying AI to have real world impacts, in this case for productivity.”
